In 2016, the Central Bank of the Republic of Turkey took further steps towards enhancing communication and bilateral cooperation with other central banks. In this context, high level policy dialogue meetings were held with Banca d’Italia in November and with ECB in December.

Under the current Memorandum of Understanding (MoU) signed in 2012, a seminar on “Monetary Policy and Liquidity Management”, a conference on “Economic Growth and Income Convergence” and a forecasting workshop were jointly organized with the ECB, on 11 March 2016 in Ankara, 2‑3 September 2016 in İzmir and 1‑2 December 2016 in Ankara respectively. Under the MoU signed in 2013, a high-level technical meeting was held jointly with Banca d’Italia on 12 December 2016 in Rome. Under the MoU signed in 2013, the Representative of Deutsche Bundesbank in Turkey visited CBRT to meet with officials from various departments of the Bank on 29 January, 26 May and 3 November 2016. As part of the MoU framework, six staff members of the Bank were appointed as secondees at above mentioned central banks, while one person was appointed as a secondee at the CBRT.

As part of the bilateral cooperation initiative, an MoU has been signed with the Central Bank of the Kyrgyz Republic in January. Furthermore, 11 of the central banks with which the CBRT has an MoU framework were contacted for further enhancing cooperation and a new process of cooperation was initiated with 14 central banks. Negotiations on MoU’s with eight central banks have been continuing.